You will be redirected back to your article in seconds

Live Nation revenues fall

Concert earnings down, but ticketing income on the rise

Live Nation Entertainment’s overall revenue declined in the quarter ended Sept. 30, while operating income showed an uptick during the same period, the company announced Wednesday.

LNE’s revenue slipped 2.5% to $1.79 billion, versus $1.85 billion in the same quarter last year.

Revenue derived from concerts fell 7.3% to $1.28 billion, down from $1.38 billion in the 2011 quarter. However, ticketing revenue rose 9.9% to $287 million, while revenue from LNE’s Artist Nation management division rose 9.4% to $121.4 million.

Net income for the period rose to $51.7 million from $51 million in the 2010 quarter.

On the concert front, the number of estimated events for the third quarter climbed to 5,271 from 4,929 for the same period in 2010. However, total estimated attendance declined to 15.6 million, from 16.5 million during the third quarter of 2010.

Ticketing for concerts declined to 18 million ducats in the quarter, compared to 18.2 million during 2010’s third quarter.

LNE prexy-CEO Michael Rapino said in a statement, “We believe the stabilization of consumer demand for live events will continue into 2012 and, looking ahead, we are increasingly optimistic about our opportunities. Given the continued fan demand for concerts and a growing supply of artists hitting the road, we are optimistic about the future growth of the global concert industry.”

More Music

  • Shania Twain

    'Now' and Then: Shania Twain on Chasing Love and Fun, 20 Years After 'Come on Over'

    Live Nation Entertainment’s overall revenue declined in the quarter ended Sept. 30, while operating income showed an uptick during the same period, the company announced Wednesday. LNE’s revenue slipped 2.5% to $1.79 billion, versus $1.85 billion in the same quarter last year. Revenue derived from concerts fell 7.3% to $1.28 billion, down from $1.38 billion […]

  • Selena Quintanilla

    Selena Quintanilla to Receive Posthumous Star on Hollywood Walk of Fame

    Live Nation Entertainment’s overall revenue declined in the quarter ended Sept. 30, while operating income showed an uptick during the same period, the company announced Wednesday. LNE’s revenue slipped 2.5% to $1.79 billion, versus $1.85 billion in the same quarter last year. Revenue derived from concerts fell 7.3% to $1.28 billion, down from $1.38 billion […]

  • NASHVILLE, TN - OCTOBER 18: Singer-songwriter

    Jason Aldean, Luke Bryan Lead All-Star Country Tribute to Victims on CMT's 'Artists of the Year'

    Live Nation Entertainment’s overall revenue declined in the quarter ended Sept. 30, while operating income showed an uptick during the same period, the company announced Wednesday. LNE’s revenue slipped 2.5% to $1.79 billion, versus $1.85 billion in the same quarter last year. Revenue derived from concerts fell 7.3% to $1.28 billion, down from $1.38 billion […]

  • Kelly Clarkson Meaning of Life

    Kelly Clarkson Shares Album Title Track 'Meaning of Life' (Listen)

    Live Nation Entertainment’s overall revenue declined in the quarter ended Sept. 30, while operating income showed an uptick during the same period, the company announced Wednesday. LNE’s revenue slipped 2.5% to $1.79 billion, versus $1.85 billion in the same quarter last year. Revenue derived from concerts fell 7.3% to $1.28 billion, down from $1.38 billion […]

  • Lin-Manuel Miranda Donald Trump Peurto Rico

    Lin-Manuel Miranda on Trump and Puerto Rico: 'I Don't Run Well on Anger'

    Live Nation Entertainment’s overall revenue declined in the quarter ended Sept. 30, while operating income showed an uptick during the same period, the company announced Wednesday. LNE’s revenue slipped 2.5% to $1.79 billion, versus $1.85 billion in the same quarter last year. Revenue derived from concerts fell 7.3% to $1.28 billion, down from $1.38 billion […]

  • Taylor Swift Reputation

    Taylor Swift Teases New Single, 'Gorgeous,' Dropping Tonight (Listen)

    Live Nation Entertainment’s overall revenue declined in the quarter ended Sept. 30, while operating income showed an uptick during the same period, the company announced Wednesday. LNE’s revenue slipped 2.5% to $1.79 billion, versus $1.85 billion in the same quarter last year. Revenue derived from concerts fell 7.3% to $1.28 billion, down from $1.38 billion […]

More From Our Brands

Access exclusive content